Turkish anti-trust watchdog fines retailers, supplier total of $283 mln (updated)

Sok Marketler Ticaret AS

29/10/2021 10:07

(Adds comment from companies)
    ISTANBUL, Oct 29 (Reuters) - Turkey's Competition Board said
on Friday it has fined retailers BIM, Migros, CarrefourSA, Sok
Marketler and Yeni Magazacilik, as well as supplier Savola Gida
a total of 2.7 billion lira ($283 million) for violating
antitrust regulations.
    The Turkish anti-trust watchdog alleged that the companies
had coordinated prices of products directly or via suppliers in
a manner that was against the interests of consumers and had
entered into cartel-like agreements or coordinated actions.
    BIM  BIMAS.IS  was fined 958.1 million lira, Migros
 MGROS.IS  517.7 million lira, CarrefourSA  CRFSA.IS  142.5
million lira and Sok Marketler  SOKM.IS  384.4 million lira, the
competition board said in a statement.
    Yeni Magazacilik and supplier Savola Gida were fined 646.6
million lira and 33.3 million lira respectively.
    The companies can appeal the board's ruling. 
    Following the announcement, Migros said that it operates in
line with laws and regulations and would file a lawsuit seeking
an annulment of the board's decision. Bim, CarrefourSA, Sok
Marketler, Yeni Magazacilik and Savola Gida were not immediately
available for comment due to a public holiday.
    The board said that the fines were determined according to
the revenues reported in the 2020 financial statements of the
six companies.
($1 = 9.5333 liras)  

 (Writing by Ezgi Erkoyun;
Editing by Alexander Smith & Simon Cameron-Moore)
 ((ezgi.erkoyun@thomsonreuters.com; +90-212-350 7051; Reuters
Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))